"A long-coveted deal to slash US steel and aluminium tariffs to zero has been shelved on the eve of Donald Trump's state visit to Britain, the Guardian has learned. Ministers were poised to finalise a deal this week that would have reduced Trump's tariffs on British steel to zero, according to government officials. But that deal has been put on ice hours before the US president's arrival in the UK, in what steel industry figures privately described as a major blow."
"The trade deal announced by the US and UK in May was supposed to reduce tariffs on steel from 25% to 0%, but its implementation was put on hold over US concerns about the UK becoming a backdoor for cheap steel imports from other countries. Speaking before his flight to London, Trump had raised hopes of a breakthrough by saying the UK government would like to see if they could get a little bit better deal, so we'll talk to them."
A long-planned deal to eliminate US tariffs on British steel and aluminium was shelved hours before President Trump's state visit. Ministers had prepared to finalise an agreement that would have secured 0% tariffs on a small quota of British steel exports, but the deal was put on ice, worrying industry figures. Officials are now seeking a permanent guarantee that US tariffs on British steel will not exceed 25%, while other countries face 50% tariffs. Negotiations continue amid US concerns that the UK could act as a backdoor for cheaper steel imports.
Read at www.theguardian.com
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